BBK Full Form

What is full form of BBK?

The Bank of Bahrain and Kuwait B.S.C. (BBK) is a modern international resource that provides people with the financial products, services, tools, experience, and, most importantly, the knowledge and partnership they need to face the future confidently. The Bank of Bahrain and Kuwait B.S.C. (BBK) was founded in March 1971 in Bahrain with the goal of delivering a variety of efficient and customised financial services. BBK created its first international branch in Kuwait in 1978. After a few years, branches were established in Mumbai and Hyderabad. With the addition of two new branches in Aluva and New Delhi, BBK is now one of Bahrain's largest commercial banks, with 16 local branches, 5 full-fledged overseas branches, and a representative office in Dubai.

This Story also Contains

1. What is full form of BBK?
2. 1. History of BBK
3. 2. Services of BBK
4. 3. Organisational Structure of BBK
5. 4. Presence in India

1. History of BBK

The BBK, originally known as the Bank of Bahrain and Kuwait B.S.C.(BBK), was created on March 16, 1971, by Amiri's order and began operations a year later. For the past 50 years, BBK has been a pioneer in commercial banking in the Kingdom of Bahrain. It commenced operations in 1972 with a capital of BD 1 million (US$ 2.5 million). With a capital basis of BD. 303.9 million (US$ 806 million), it has evolved to become one of the leading commercial banks in the Kingdom of Bahrain. It has succeeded in establishing a name and reputation that are acknowledged both locally and globally. With a countrywide network of financial malls, branches, and ATMs, they have a strong local presence. It has activities in the State of Kuwait, the Republic of India, and through a representative office in Dubai, United Arab Emirates, in addition to local branches. As a market leader, they pioneered the "Financial Mall" idea in 2006, bringing together partners such as CrediMax credit cards, telecommunications services, travel, and insurance requirements under one roof. Financial malls offer customer-friendly services, personal financial counsellors, and line-cutting automated technology. The notion is a huge step forward since it replaces traditional, time-consuming banking operations with a more pleasant experience. We take pleasure in leveraging cutting-edge technology to deliver a broad range of loan, deposit, treasury, and investment services to diverse sectors of the domestic, regional, and worldwide markets. We play a significant role in the financing of infrastructure and industrial projects, as well as the development of goods and services that meet the demands of people, investors, enterprises, organisations, and the government. Anticipating rising demand in online banking, they developed complete banking solutions and new-generation services via our user-friendly website, which received several honours.

To broaden our client offering, they have established a variety of subsidiaries in financial services, Islamic investment and mortgage, and credit cards in recent years. High corporate governance standards have been critical to sustaining BBK's leadership position in the local and regional banking sector, as well as in the community. Continuous evaluation and adherence to solid corporate governance processes aided in improving compliance levels following worldwide standards, regulatory authority policies, and legislative requirements in the Kingdom of Bahrain and other countries where BBK operates.

2. Services of BBK

• Among the various facilities and services provided to all clients by the Bank of Bahrain and Kuwait are ancillary services, collection services, savings accounts, no-frills account services, and remittance services.

• Monthly statements via email, balance inquiry, SMS Alert (mobile notifications), cash withdrawal or any other transaction through the ATM, one free (25 leaves) chequebook per HY, and Pass Book printing are just a few of the free services provided by the bank.

• The NEFT system of the bank enables the electronic transfer of funds from one customer's account to another's account across NEFT-participating bank branches across India.

• It offers a safe, efficient, cost-effective, trustworthy, and rapid method of moving payments. Customers can transmit funds using the RBI's NEFT or RTGS programmes.

• The BBK RuPay Debit Card is a new customer-friendly product feature. With the BBK RuPay Debit Card, customers may enjoy a hassle-free purchasing experience.

• This is India's payment card, with settlement taking place within the country and a secure payment system deducting the amount spent from the customer's account. Their Hyderabad, Aluva, and New Delhi branches provide a safe deposit locker service to ensure the safety of their customers' belongings.

3. Organisational Structure of BBK

According to the bank's memorandum and articles of association, the board of directors consists of 11 to 12 members. The Board of Directors is composed of a broad set of high-level professional abilities and expertise. Furthermore, as required by corporate governance, members of the board committees have suitable professional qualifications and expertise. Regularly, the board assesses its composition as well as the contributions of its directors and committees.

4. Presence in India

The Bank of Bahrain and Kuwait, or BBK, has a youthful and motivated staff of experts devoted to providing the finest service. As a scheduled commercial bank, BBK has been present in India since 1986. In India, there are four branches. Hyderabad is ranked second. Third, in Aluva (Ernakulam Dist., Kerala), near Kochi; fourth, in New Delhi.

BBK provides high-quality banking services in a tranquil setting. BBK has a global network of correspondents to assist foreign exchange and trade finance businesses.

To provide a complete banking experience, BBK provides its customers with high-quality credit facilities, a diverse choice of deposit products, NRI services, a well-equipped dealing room, and a strong remittances department.

BBK specialises in providing structured finance to mid-sized corporations and SMEs. It also distributes ECBs to major Indian corporations for suitable reasons. BBK offices in India have a full-fledged NRI desk that caters to a range of non-resident Indian needs such as customised banking, share market investments, portfolio investment services, mutual fund investments, and so on. NRIs in Bahrain, Kuwait, and the UAE can contact our specialised NRI Services Desks in these countries for all of their needs.